I think it's important that people view college as less of a necessity, and more of a way to earn a degree to pursue a career. If the starting career salary, or salary increase long-term won't allow for a lifestyle that can pay back any money borrowed, then borrowing money to begin with is not the best idea. Some of my peers took gen-ed classes at a community college, to save on tuition. I really wish I was smart enough back then to do that, or that the college prep advisors in my high school had suggested such.
I also believe that this author does have career opportunities that would allow him to pay back part of his financial obligations, and he chooses to be a deadbeat about it, and that he shouldn't have attended an expensive school.

The big thing that is worse, I think, is economic inequality, and I do think that is something that needs to be worked on.
However, the world has less racism, less homophobia, better medicine, cheap and fast global communications, inexpensive computing devices that can perform amazing computations, and put the shoe phone from "Get Smart" to shame,. Not to mention that violent crime and rape are at their lowest level since the 70's.
The world is an awesome place now.